Cornerstone League in Plano, Texas, and Heartland Credit Union Association in Overland Park, Kan., are exploring a merger of their organizations.
The associations said in a press release that they have signed a letter of intent to create a group that would represent 718 credit unions in five states.
“We believe that the infrastructure supporting our credit unions must evolve to keep pace with the way credit unions and consumers have changed,” Caroline Willard, Cornerstone’s president and CEO, said in the release. “Partnering with Heartland can help both organizations do that.”
Merging “provides a unique opportunity for our leagues to maximize efforts in compliance and advocacy,” Lisa Simmons, Heartland’s interim CEO, said. “This partnership will provide all credit unions access to more options to better serve their members and communities.”
Willard said that in combining their shared strengths, Cornerstone and HCUA can help to preserve the unique role of financial cooperatives in the marketplace.
The organization would operate under the Cornerstone brand.
The merger would likely become official in January if approved.